Insurance and financial services in Botswana
Botswana: Insurance and financial services was 2.1% in 2024. ◆ Volatile
Insurance and financial services in Botswana, 1975–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
Botswana recorded 2.1% for insurance and financial services in 2024.
That represents a change of down 19.4% on the previous year and up 352.5% over ten years.
Over the whole period, insurance and financial services in Botswana peaked at 12.4% in 1994 and was at its lowest, 0.5%, in 2014.
That places Botswana 175th out of 197 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Botswana, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1975 | 1.1% | — |
| 1976 | 1.5% | +36.4% |
| 1977 | 1.7% | +11.5% |
| 1978 | 1.9% | +14.8% |
| 1979 | 4.1% | +114.5% |
| 1980 | 3.7% | -9.6% |
| 1981 | 3.6% | -2.7% |
| 1982 | 4.6% | +28.2% |
| 1983 | 4.9% | +7.4% |
| 1984 | 5.7% | +16.0% |
| 1985 | 5.0% | -11.7% |
| 1986 | 5.6% | +10.3% |
| 1987 | 6.4% | +14.9% |
| 1988 | 7.6% | +19.5% |
| 1989 | 6.8% | -11.7% |
| 1990 | 5.4% | -19.5% |
| 1991 | 4.0% | -27.2% |
| 1992 | 5.3% | +32.7% |
| 1993 | 5.8% | +9.8% |
| 1994 | 12.4% | +115.5% |
| 1995 | 8.0% | -35.7% |
| 1996 | 4.1% | -48.1% |
| 1997 | 4.4% | +5.4% |
| 1998 | 3.7% | -16.0% |
| 1999 | 4.1% | +11.2% |
| 2000 | 3.8% | -5.7% |
| 2001 | 4.6% | +19.2% |
| 2002 | 5.1% | +11.4% |
| 2003 | 8.0% | +56.3% |
| 2004 | 9.8% | +22.8% |
| 2005 | 5.9% | -39.9% |
| 2006 | 6.2% | +6.1% |
| 2007 | 5.4% | -13.1% |
| 2008 | 3.4% | -37.4% |
| 2009 | 3.0% | -10.3% |
| 2010 | 3.6% | +16.8% |
| 2011 | 4.4% | +22.4% |
| 2012 | 0.5% | -88.1% |
| 2013 | 0.7% | +31.3% |
| 2014 | 0.5% | -32.7% |
| 2015 | 2.4% | +431.8% |
| 2016 | 1.5% | -40.1% |
| 2017 | 2.1% | +45.2% |
| 2018 | 6.5% | +207.1% |
| 2019 | 7.8% | +20.0% |
| 2020 | 4.4% | -44.0% |
| 2021 | 2.4% | -44.3% |
| 2022 | 1.3% | -44.8% |
| 2023 | 2.6% | +91.2% |
| 2024 | 2.1% | -19.4% |
Botswana compared with similar countries
- Botswana's 2.1% is below the median for upper middle income countries, which is 6.2%, 34% of the median. (55 countries reporting)
- Botswana's 2.1% is below the median for Sub-Saharan Africa, which is 6.5%, 32% of the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Botswana changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2015 | +431.8% | 0.5% | 2.4% |
| 2018 | +207.1% | 2.1% | 6.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.0% | 1.1% | 4.1% | 5 |
| 1980s | 5.4% | 3.6% | 7.6% | 10 |
| 1990s | 5.7% | 3.7% | 12.4% | 10 |
| 2000s | 5.5% | 3.0% | 9.8% | 10 |
| 2010s | 3.0% | 0.5% | 7.8% | 10 |
| 2020s | 2.6% | 1.3% | 4.4% | 5 |
Countries ranked near Botswana
- 172 Kiribati 2.1% compare
- 173 Papua New Guinea 2.1% compare
- 174 Lao People's Democratic Republic 2.1% compare
- 176 Congo 2.1% compare
- 177 Naoero 2.0% compare
- 178 Sint Maarten (Dutch part) 2.0% compare
More economy & growth data for Botswana
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.52 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.98 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 3.02 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0002 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 1.2 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 467.27 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual -36.99 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0242 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 185.34 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate -27.34 % change on previous year (2024)
Frequently asked questions
- What is insurance and financial services in Botswana?
- Insurance and financial services in Botswana was 2.1% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Botswana?
- The highest recorded value was 12.4% in 1994.
- What is the lowest insurance and financial services recorded in Botswana?
- The lowest recorded value was 0.5% in 2014.
- How does Botswana rank for insurance and financial services?
- Botswana ranks 175th out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Botswana?
- Over the last ten years it is up 352.5%. The long-run trend across the full record is volatile.
- Where does this Botswana data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of service imports, BoP). Statizoid updates them automatically from the source API.
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About this data
Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents. This indicator is expressed as a percentage of service imports which are services provided by non-residents to residents.